Lottery.com appoints Marc Bircham as Executive Director

Lottery.com Inc. (NASDAQ:LTRY), a leader in digital lottery services with a market capitalization of $14.52 million and current share price of $0.77, announced today the appointment of Marc Bircham to its board of directors as an Executive Director, effective immediately. Despite challenging market conditions reflected in an 84.82% year-over-year revenue decline, the company maintains impressive gross margins of nearly 70%.

Mr. Bircham, a former international footballer turned seasoned executive, brings a wealth of experience from his tenure in professional sports, business development, and strategic leadership. Known for his time as a Queens Park Rangers player, Bircham has also earned recognition as a director at Sports.com, where he has driven international expansion, managed acquisition projects, and established significant partnerships in the sports and entertainment sectors. According to InvestingPro analysis, this appointment comes as the company’s stock has shown significant volatility, with a remarkable 75.58% gain year-to-date despite longer-term challenges.

The company’s board of directors welcomed Bircham, citing his extensive network, expertise in football, and a proven track record in entrepreneurial ventures and board-level strategy as valuable assets to Lottery.com’s growth and vision.

In his new role, Bircham will participate in the company’s equity compensation plans, aligning with the standard arrangements for all directors. The appointment reflects Lottery.com’s commitment to broadening its leadership with diverse and dynamic perspectives as it continues to innovate in the lottery industry.

This announcement is based on a recent press release statement and further details regarding Mr. Bircham’s compensatory arrangements were not disclosed in the filing.

In other recent news, Lottery.com Inc. has announced its intention to acquire a majority stake in DotCom Ventures Inc., valued at $10 million, which includes premium domain assets Concerts.com and TicketStub.com. This strategic acquisition is expected to bolster Lottery.com’s presence in the entertainment and live events industry by integrating content and commerce into a unified global strategy. Additionally, Lottery.com has secured $250 million in committed funding, comprising $150 million from United Capital Investments London and $100 million from Generating Alpha, to support its expansion and technology scaling efforts.

The company has completed its financial restructuring and achieved full Nasdaq compliance, setting the stage for an aggressive buy-and-build strategy. Furthermore, Lottery.com has announced a sponsorship agreement with racecar driver Sebastian Murray for the INDY NXT by Firestone series, which includes branding and media rights. In a move to increase transparency, Lottery.com plans to host its first shareholder webinar in over three years, as part of its two-year corporate turnaround effort. The company has also revamped its leadership, with Matthew McGahan transitioning to CEO and President roles and appointing new executives like Robert Stubblefield as CFO and Gregory Potts as COO.

Despite these positive developments, Lottery.com faces challenges, including a delisting notice from Nasdaq due to non-compliance with shareholder approval requirements. The company is required to submit a plan to regain compliance, with potential extensions granted by Nasdaq if accepted.

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